資本市場和金融機構(gòu)(9)-展示頁
2025-05-25 22:51本頁面
【正文】 s to trade large volume of transactions such as the transaction cost per unit is highly reduced. 8 ?Other Functions ? Transmission of moary policy ? Banks, trusts, and credit unions. Mainly by the Big Six Banks ? Credit allocation (Providers of credit to households/firms’ that face money shortages to finance their consumption/operational and/or investment needs) ? Banks, trusts, credit unions, and finance panies (., in financing home mortgages, student loans…) ? Intergenerational transfer of wealth or time intermediation ? Pension funds。 life insurance panies, and deposittaking FIs. ? Payment services ? Banks, trusts, and credit unions. (., chequeclearing, electronic transfers, etc). ? Denomination intermediation ? Pension Funds, Mutual funds. With small amount of money savers can invest in securities that are sold in large denominations only. 9 5. Financial Innovation Driving factors/events of financial innovation ? High volatility in price indices, i’s, FX rate, share prices, modity prices ? Government Regulations ? Globalization ? Technological advances ? Market crises Financial Innovation allows to better Measure and Manage Risk with appropriate levels of Return using financial instruments including: options, forwards, futures, swaps, VAR, stock index futures, interest rate futures, futures options, swaptions. 10 Types of Risks faced by FIs ? Liquidity risk ? Interest rate risk ? Market risk ?
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